January 2016

New Reverse Mortgage Laws Should Positively Benefit Retirement Planning, Experts Say

If you are pursuing retirement planning and preparing for when you eventually leave the workforce, it’s smart to be aware of any changes that could potentially affect your grand plan. In recent years, a lot of older Americans have looked to a reverse mortgage as one of their retirement tools. For those who are age …

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Everything You Need To Know About The New Illinois Reverse Mortgage Law

As of January 1st, 2016, a new Illinois reverse mortgage law has gone into effect. It governs how these Home Equity Conversion Mortgages (HECMs) are handled in this state, and coincides, in part with the recent federal update to the national reverse mortgage rules. Here’s the scoop. In August of 2015, Illinois Governor Bruce Rauner …

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